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Home Buying in 98118 : Real Estate Advice

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  • Home Buying4
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Activity 300
Fri Feb 24, 2012
Dan Tabit answered:
Deja,
When you buy into a community you own the space you purchase and a portion of the common areas. There are typically association boards that are voted in by the owners to manage the complex and make recommendations for changes as they come up.
The question is, how restrictive are they planning to make the CC&R's and are you okay with the new rules? If they ban large dogs, and you already have one you could be grandfathered in or need an exemption due to your current status.
On the other hand, some rules allow for some order and can address long standing issues others have had to contend with. It just comes down to how you want to live and how the association wants things to be.
I would add a contingency to review any CC&R's and decide what rules you can live with and which you may not want to and decide.
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Wed Feb 29, 2012
Dave Skow answered:
Wed Feb 22, 2012
Don Tepper answered:
Interesting question. That depends as much on the buyer (and what the buyer knows/understands versus doesn't know/doesn't understand) as anything else.

Here are a few possibilities:

The most glaring/most obvious problems are often the easiest to fix. It's amazing how many buyers will reject a home just because it needs new paint or carpet. Those are EASY to fix. Or they'll reject a house because it doesn't have stainless steel appliances and granite countertops. Those, too, are EASY to fix. On the other hand, people sometimes overlook incurable problems--proximity to a highway, for instance, or bad room layouts.

Sometimes it's not all about price. Selling a home is an emotional experience, sometimes intensely emotional. Dealing with that can be even more important than making a good offer. And other times, even when emotion isn't playing a big role, price may not be the overriding objective. Sometimes it's selling the house quickly as-is. Sometimes it's terms and conditions--getting the right closing date. Sometimes it's selling, knowing that the house is sold (taking a somewhat lower but much stronger offer).

Hope that helps.
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Thu Jan 26, 2012
Kevin DeLashmutt answered:
Hi Steph,

No steps inside. The units are separate. Would you like to see the property?

Kevin
0 votes 1 answer Share Flag
Mon Jan 9, 2012
Miles Lewis answered:
Escrow services are a good idea, and a general practice in almost all real estate transactions. The costs are paid by both the seller and the buyer equally. The company to use is an agreement between both parties. ... more
0 votes 11 answers Share Flag
Sun Mar 4, 2012
Patrick Beringer answered:
Thu Jan 19, 2012
Vera Brodsky answered:
I have many clients who are investors. I can help you with finding tenants and suggest a management company for on-going maintenance. check out my info on linked-in. www.linkedin.com/in/verabrodsky ... more
0 votes 10 answers Share Flag
Wed Jul 1, 2015
Leah Pham answered:
I usually check the Cost vs Value report, which is a yearly roundup of remodeling costs and what value your remodel might bring to your home: http://www.remodeling.hw.net/2011/costvsvalue/division/pacific.aspx

Other good resource is Marshall & Swift: http://www.marshallswift.com/

Good luck with your project!
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Thu Nov 3, 2011
Anna M Brocco answered:
Much will depend on your contract, therefore review the document, or consult with an attorney who specializes in real estate.
0 votes 3 answers Share Flag
Thu Nov 3, 2011
Gary McNinch answered:
Hi Eshak,

I really like this neighborhood. Some view of Seattle, some of Lake Washington, some of the Cascade mountains. Quick commute. Nice homes of many types and sizes. I have sold several homes there and have lots of friends there.

Call me if you want more info or I can set you up on my Market Insider site so you can see market trends, business and school info.

Take care, Gary
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Mon Oct 31, 2011
Lila Simpson answered:
Sometimes we see sellers who have not 'lived' in a property refuse to fill out property disclosures such as banks with foreclosures, investors or trustees of an estate. If this is a property that they rehabbed they should have some knowledge of the construction especially with regard to improvements they made. As a buyer's agent I get nervous when builders/sellers don't stand by their product. One question you could ask is if they received a disclosure statement from the seller they purchased from and what information that contained. Are there any existing neighbors who may have historical information relative to the building? Are they offering inspections or warranties? I can't speak to what is normal in your market, however, this would make me a little nervous for my clients and I would recommend doing some due diligence here. Good luck! ... more
0 votes 11 answers Share Flag
Sun Oct 30, 2011
David Marcoe answered:
All cash, yes, otherwise credit will be an issue witht the banks. Best of wishes in your studies. If I can help let me know.
0 votes 7 answers Share Flag
Tue Nov 8, 2011
Chris Loeliger answered:
My colleague wrote 13 offers for one of her clients before the 13th was accepted. If you don't have cash, you can't beat out cash investors. Ignore that for now, you can only do what you can do. I assume you are writing offers on lower price point homes, perhaps bank owned or short sale. So, are you doing all you can do? Are you writing full price offers? Are you willing to waive inspection or do a pre-inspection? Are you supplying an airtight lender approval letter? (Make sure you have not just had a conversation with your lender but that you have completed you application with your lender. That makes it a much stronger lender approval letter.) My point is that there are a lot of things that buyers do that sabotage their offer without even realizing that's what they are doing. Make sure you are working with a broker that is representing you (and only you) and telling you what you NEED to hear and not what you WANT to hear. ... more
0 votes 8 answers Share Flag
Fri Oct 28, 2011
Michael Cheng answered:
You'll have to get your Realtor to ask the listing agent if he'll accept a backup offer. Fannie Mae will just look at the one offer submitted. If Fannie Mae rejects the offer, then the listing agent may submit your backup offer. ... more
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Fri Nov 7, 2014
Tim Moore answered:
All should be good as long as it is working properly. The bad things can happen if you lose power and continue to use the toilet. All things can break, but they work pretty well and should last a long time. ... more
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Wed Mar 26, 2014
David Sligar answered:
Hello, If you buy it as in investment property first with 25% down the process should be relatively painless.
If you buy it owner occupied you might likely have a job here that is secure. Also you could buy it as a vacation rental. Let me know if you have more questions.
David
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Thu Jan 5, 2012
Dave Skow answered:
likely best bet will be to stay in NE quadrant ( wedgewood, bryant , wallingford , laurelhurst , view ridge ) ...
0 votes 27 answers Share Flag
Thu Jan 30, 2014
Mack McCoy answered:
No. Don't worry about it. If there is actual structural damage, ask to have the affected wood replaced. Carpenter ants do not destroy Seattle houses.

All the best,
0 votes 13 answers Share Flag
Mon Sep 5, 2011
Kary Krismer answered:
First, I think many of the bank contracts deny a commission if the buyer is an agent.

Second, I think most brokerages now don't take on new agents and allow them a commission free transaction right out of the gate. Liability in exchange for no commission is not a good trade off.

Beyond that though, a bank owned property is not something that you want to cut your teeth on, whether it's for you or a client. They are more risky.
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